NSW Newcastle Property 2016

What does everyone think about Hamilton North? I've never really searched the area before but I'm currently doing some research on different areas as I want to buy another house in the next 3-4 months.

Hamilton North looks like it's still pretty good value for being so close to the city.

38 Boreas Road Hamilton North NSW 2292 - House for Sale #124070662 - realestate.com.au

I do remember there being some issues around soil contamination though, anyone got further information around this?

Growth in this area seems to be consistent

Update: this really turns me off Hamilton gas works site leaching toxic chemicals

 

Dude Hamilton north is great, is there much stock there? I've got my eye on a street there, just waiting for something good to come up. Two bad things, there's two main busy af roads and a train line.

 

Yep lots of contamination in the area, you can search for them here: (DECCW | Search the contaminated land record).

The gasworks are currently being remediated, so a lot of the issues at the site should be contained in the next couple of years. Also the contaminants that are present at the site tend to move with groundwater. Based on the location of the site, this will present little risk to residential areas in Hamilton North.

Similarly the Shell Terminal on the other side of the Styx Creek from the gasworks is also declared by the EPA, but would present little risk to residential areas in Hamilton North. It also looks as though this site is about to start remediation works too, but I can't see when.

I'd be more concerned about the solvents identified at 56 Clyde St. From the EPA declarations it looks as though the solvents have already migrated beneath 54 Clyde St but at this stage have not been reported to have migrated beyond the southern boundary of the site across Clyde St, and that investigation appears to have been active for over a decade now with no change.

On that basis, the majority of Hamilton North would be OK from a contamination perspective.

Personally I would probably avoid anything immediately south east of 54 and 56 Clyde St (especially if bore water is used) and I would try and aim for areas closer to the park like the one in the link you provided.

 

I like Hamilton North...

But...

I also remember clearly how much of it was underwater in 2007. Yeah, not likely to happen, but that sports ground next to the Bowlo is low lying with Styx creek close by.

 

This looks HUGE ! Mall’s property mogul unveils ‘village’ vision

 

To the naysayers, suck it up. Those holding properties close to CBD are well placed to reap the rewards over the long term.

 

This is really exciting. The only thing stopping us moving back to Newcastle now is we cant get any decent Lebanese Garlic chicken. Watch that all change now.

Just kidding but I cant wait to see this change the city for the good and wish I had bought one of those East end terraces back a few years when they were affordable.

 

Hi all,
What does everyone think of Mayfield West for IP around 450-500k? Would you buy there?

 

When I was looking at Mayfield area generally in July 2015, properties were going for early 300s. prices have moved a great deal. it depends on whether there's room for growth and whether rent is soft in that area. have you inspected any of them?

 

Hi Adam,

I just built x6 townhouses in Mayfield West. They were rented in about 3 weeks at $480 - $490 each. Own them all in one line. No strata so save on land tax and council expenses.

Good central area, advice to you would be to buy the biggest size block you can afford ideally over 700sqm. My site was over 1200sqm

317 Maitland Road, Mayfield West, NSW 2304 - View Sold History & Research Property Values - realestate.com.au

 

Are you selling all or keep some? Congrats.

 

Keeping all.

The ATO has enough tax dollars.. they don't need extra from me.

 

Sorry didn't respond back straight away....Just signed contracts for a property in Mayfield West its 600m2 1930's home been renovated 495k It's my first investment property just want anyone to comment on the area,capital growth,rent etc.

 

Well done Adam. My investment in the area is substantially higher but I'm sure that together we can turn Mayfield West into the next Merewether.

 

Congrats, Adam. I don't think you can go wrong in Mayfield. Rented there for a couple of months last year, it is very convenient to everything. We bought a flat in Islington but always go back to Mayfield to do our shopping. You'll do well.

 

Newcastle is going crazy these days
I was just 3 weeks away overseas but noticeable price jumps especially inner subs...
I am planning to buy one hopefully in next few months but contemplating Newie vs Brissy
Anyone else recently bought in Newie??

 

How was your search? it's been a while has it or have you bought something in Sydney recently?

 

i tried to get into newcastle with 350k, but couldnt find much. only Tarro/baresfield...!

 

I am currently looking at 2-3 suburbs only. Not much stocks though. I bought 1ip around Newcastle recently and want to pick up one more if I can around the same area

 

Cool.